Swayampakula Ramakanth, an analyst from H.C. Wainwright, maintained the Buy rating on Innate Pharma (IPHA – Research Report). The associated price target remains the same with $11.50.
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Swayampakula Ramakanth’s rating is based on several compelling factors surrounding Innate Pharma’s IPH4502. Primarily, the innovative approach of IPH4502 as a Nectin-4 antibody drug conjugate (ADC) positions it as a potential leader in overcoming resistance to enfortumab vedotin (EV), which is crucial in treating locally advanced/metastatic urothelial carcinoma. The drug’s unique mechanism, utilizing exatecan as its payload, targets a different epitope than EV, demonstrating efficacy in preclinical studies with EV-resistant models.
Furthermore, IPH4502 may offer a differentiated and potentially safer profile compared to EV, which is burdened by significant toxicities that often limit its prolonged use. This new therapy could possibly provide a more manageable safety profile, with neutropenia as a known risk but less severe than EV’s side effects. Additionally, the potential application of IPH4502 extends beyond urothelial carcinoma to other solid tumors expressing Nectin-4, opening doors for broader therapeutic impact. These factors collectively support the Buy rating as they underscore the drug’s potential in addressing unmet medical needs and expanding its clinical applications.